Smart Axiata CEO Ziad Shatara met with His Excellency Deputy Prime Minister and First Vice-Chairman of the Council for the Development of Cambodia (CDC), Sun Chanthol on April 29 to discuss the company’s role as a model FDI entity.
The visit underscored Smart’s influential status as a leading company in transforming the telecommunications landscape and developing mobile technology and infrastructure. As well as delivering innovative technology solutions for individual and enterprise customers, Smart excels in security and Sustainable Development Goals (SDGs), environmental, social, and governance (ESG) and corporate social responsibility (CSR) efforts to support Cambodia’s goal of becoming a high-income country by 2050.
Smart has long been recognized as a cornerstone of foreign direct investment (FDI) in Cambodia and as a compliant company, achieving Gold recognition for its tax contributions to the Kingdom. Significantly advancing the nation's economic progress over the past two decades, the company invests over 70 million USD in capital annually. This consistent investment demonstrates its belief in Cambodia’s potential and its commitment to driving long-term positive change.
In 2023 alone, Smart further solidified its position as a prominent force for economic development by injecting 75 million USD in capital investment, creating job opportunities, and empowering local communities. This substantial investment not only bolsters the Cambodian economy but also reflects Smart’s dedication to being a catalyst for growth and prosperity.
During the meeting with Deputy Prime Minister Sun Chanthol and his cabinet, Ziad emphasized Smart’s role as a leader in enabling sustainable development and highlighted its contributions as a key, responsible taxpayer.
To foster innovation, enhance telecom services and further sectoral development, Smart allocates more than 1% of its annual revenue to the Capacity Building, Research and Development Fund. Additionally, 2% of annual revenue is directed to the Universal Service Obligation Fund. These contributions are designed to drive positive changes in the telecom sector while simultaneously empowering Cambodian research, capacity building and innovation efforts.
The company has also showcased its steadfast commitment to ESG principles since its early years of operation, evidenced by it being the first telco to publish an annual Sustainability Report. This dedication to sustainability has set a benchmark for corporate responsibility across the Cambodian business landscape.
Looking forward, Smart has reaffirmed its continued commitment to enhancing its role as a transformative force in Cambodia’s economic landscape, aiming to bolster people’s well-being and prosperity through ongoing innovation and strategic investments.
